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Fuel Pricing

South Asia

Issue Date: Jul 15, 2008
Another disputed dam: After Baglihar, Kishanganga dam has embroiled India and Pakistan in a water dispute. Union minister of state for power Jairam Ramesh recently asked the National Hydroelectric Power Corporation (NHPC) to expedite work on the 330-mw Kishanganga power project in Jammu and Kashmir, citing that Pakistan is also constructing a power project on the Kishanganga river, called Neelum across the Line of Control. Pakistan's Water and Power Development Authority has recently started work on 969-mw Neelum Jehlum hydel project.

Tax brakes

Issue Date: Jul 15, 2008
the Union Ministry of Finance imposed an additional duty of Rs 15,000 to Rs 20,000 per vehicle on big cars and utility vehicles on June 13. The decision comes as a knee-jerk reaction to the skyrocketing international crude prices. While welcoming the move as a step forward, experts said staving off an energy crisis would require making the tax progressively harsher and linking it with fuel economy standards for vehicles.

Brief

Issue Date: Jun 30, 2008
fuel price India fails to shield consumers

Frugality is not poverty lessons in energy security

Issue Date: Jun 30, 2008
After much vacillation and prevarication, the government has finally done the inevitable--raised the price of petroleum products--by doing a little of everything. But the bottom-line is that even after the cut in customs tax, reduction in excise duty, a 'modest' increase in the cost of petrol, diesel and cooking gas for all and a further request to states to slash their taxes, the oil companies are still left with massive deficits in every litre or every cylinder sold. It is a job half done at a time when the burden of the task is spiralling.

EU fishers up against dearer fuel

Issue Date: Jun 15, 2008
The spiralling fuel prices in the international market have hit European fishing fleets. Angered fishers are blockading ports in several countries.

South Asia

Issue Date: Jun 15, 2008
Pakistan introduces daylight saving time to battle power shortage: In a bid to reduce load shedding, the Pakistani government on May 14 announced that the country will forward its clock by an hour from June 1 for the next three months. The plan will also force commercial centres to close by 9 pm. The other measures that the government announced include shutting down air conditioners in government offices, including secretariats, between 8 am and 11 am; lighting up 50 per cent of the street lights; and installing a million CFL bulbs in the country.

Brazil encouraging flex-fuel vehicles

Issue Date: Apr 15, 2008
As crude oil prices soar to new highs, Brazil's state-owned petroleum company Petrobras is looking beyond the windfall to place bets in the growing alternative energy market.

Russia gambles on gas prices

Issue Date: Apr 15, 2008
A landmark deal reached between Russia's state-controlled gas monopoly Gazprom and three energy-rich Central Asian nations is likely to affect European consumers. On March 11, Gazprom agreed with heads of the gas companies from Kazakhstan, Uzbekistan and Turkmenistan that starting in 2009, it will pay "European market prices" for Central Asian natural gas.

South Asia

Issue Date: Feb 15, 2008
Sri Lanka raises fuel prices: After doling out huge fuel subsidies for five months, the Sri Lankan government finally increased fuel prices on January 13. The price of petrol has increased by LKR 10 (US $10 cents) a litre to LKR 127 (US $1.2), while the new prices for diesel and kerosene have gone up by LKR 5 (US 5 cents) and LKR 2 (US 2 cents), said the state-run Ceylon Petroleum Corporation. The country last raised the fuel prices in July 2007. However, due to a political decision, it freezed the prices until the end of the year.

Argentina bans petroleum export

Issue Date: Feb 15, 2008
A midst reports of fuel shortages and rising domestic fuel prices, the government of Argentina has decided to freeze export of petrol and petroleum products until supplies to the domestic market is normalized and prices drop to the October 2007 level.
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